A Review of the Nigerian Energy Industry

OPEC daily basket price close at $74.23 per barrel

*A man fixes a sign with OPEC’s logo next to its headquarter’s entrance before a meeting of OPEC oil ministers in Vienna, Austria. REUTERS/Heinz-Peter Bader.

04 June 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $74.23 a barrel on Friday, compared with $75.17 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

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